2018 Q2 Greater Philadelphia Industrial Report

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Regional Industrial Market | Overview

Key Trends

  • The regional vacancy rate has been holding at 6.4% at the end of the second quarter of 2018.
  • Year-to-date absorption approached 7.0 million square feet, below last year’s six-month total of 11.5 million square feet.
  • Asking rents increased by 3% following a 4% increase in 2017.
  • Construction deliveries increased during the second quarter, boosted by two 1.0-million-square-foot buildings.
  • Investment activity was up sharply in the second quarter after a slow start to the year.

The first six months of 2018 lagged behind the mid-year results of the previous two years in terms of absorption and construction completions. There was a strong pipeline of requirements for existing and new speculative construction and 5.0 million square feet of build-to-suit projects scheduled for completion in the third and fourth quarters, all indicating stronger second half absorption.


2018 Q2 Greater Philadelphia Industrial Report

2018 Q2 Greater Philadelphia Industrial Report

Download Report